General industrials company Shivalik Bimetal Controls announced Q2FY23 results: Total Income for Q2FY23 grew by 39.7% YoY on account of robust volume growth and higher realizations. Total Income for H1FY23 grew by 40.1% YoY to Rs. 208.17 crore. Q2FY23 EBITDA as a percentage of Total Income grew by 203 bps YoY to 26.5%, while H1FY23 EBITDA margin grew by 251 bps YoY to 26.51%. Profit after Tax for Q2FY23 increased by 44.19% YoY to Rs. 18.37 crore. The sales value of Shunt Resistors for H1FY23 grew by 33.23% YoY to reach Rs. 100.47 crore, while the sales value of Bimetals grew by 43.74% YoY to reach Rs. 102.03 crore. “Our strong overall performance in Q2FY23 demonstrates sustained solid growth that truly reflects the growing demand of the marketplace,” said Mr. N.S. Ghumman, Managing Director. “Investing in intellectual capital and continuing to deliver high value is at the forefront of our growth strategy. In addition, the growing demand in high-growth segments such as EVs and smart metering, are paving the way for expanding our client base, while also offering more customisation for our existing clients with whom we enjoy long-term relationships,” he added. Mr. Rajeev Ranjan, Chief Financial Officer, added “We are well positioned for a steep growth incline and are focusing on new and established clients’ evolving needs in sync with the technological trends of today and tomorrow. Our H1FY23 results are more reflective of our strengths in delivering sustained earnings. Furthermore, being under-leveraged with low debt levels give us ample headroom to raise capital to support our growth. This also places us in an ideal position to take advantage of new high-growth opportunities in the future.” Result PDF
Industrial Goods firm Shivalik Bimetal Controls announced Q1FY23 Result : Shivalik Bimetal posts solid Q1FY23 top and bottom lines YoY, on the back of resurging global demand Revenues grew by 40.43% YoY to Rs. 99.94 crore, on account of robust volume growth over last year and higher realization on consolidated basis Shunt Resistors comprised 48.63% of total revenues and grew by 34.24% YoY Thermostatic bimetal/trimetal strips comprised 49.09% of total revenues and grew by 44.08% YoY Operating Margin stood at 26.51% increasing by 303 bps YoY, led by higher operating leverage and increased sales volume PAT grew by 53.07% YoY to reach Rs. 17.11 crore, driven by high growth in revenue from operations and product mix Rating has been upgraded from “CRISIL A-/Stable” to “CRISIL A /Stable” dated May 31, 2022. “Our strong overall performance in Q1FY23 amidst a tentative global economic environment is a testament to our innate resilience as an organization and our global industry-leading capabilities,” said Mr. S. S. Sandhu, Director & Chairman. “The recent Covid disruption is leading all organisations to bolster their intellectual capitals. We too are taking strategic steps in investing in and rewarding our people to ensure long-term tenures and to better empower them to meet evolving market opportunities for the Company. This will help us sustain our journey for quality growth well into the future,” he added Mr. Rajeev Ranjan, Chief Financial Officer, added “We are strengthening the quality of our earnings by optimising various cost levers and driving efficiency in our operations. We are also focusing on our established clients’ evolving needs in line with market trends, by making sure we remain technologically relevant. Higher volumes, coupled with tighter cost management has resulted into 53% YoY increase in our bottom line.” Result PDF
Highlights: Companies CAGR grew by 12.95% from the base financial year 2016-17; EBIDTA Margin grew by 46.69% YoY; Net Profit grew by 76.57% to Rs. 2,406.58 Lakhs QoQ led by continued cost control and market demand; Credit Rating reaffirmed at CRISIL A- /stable outlook (long term) and CRISIL A2+ (short term) by CRISIL Ratings despite lockdown induced contraction in the manufacturing industry; Robust Balance Sheet provides capacity for strategic objectives Result PDF